**The Woke Revolution Is Erasing The Past**
The Woke Revolution Is Erasing The Past
_Authored by J. Peder Zane via RealClear Wire (https://www.realclearwire.com/articles/2023/04/19/the_woke_revolution_is_erasing_the_past_149121.html),_
**Students of English and history are going the way of the dodo bird.**
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During just the last decade, their numbers at colleges and universities have dropped by a third – and humanities enrollment is down by 17%, Nathan Heller reports in his recent New Yorker article, “The End of the English Major.” (https://www.newyorker.com/magazine/2023/03/06/the-end-of-the-english-major)
Data collected by the American Academy of Arts and Sciences’ Humanities Indicators project (https://www.amacad.org/humanities-indicators) show that “ **from 2012 to 2020 the number of graduated humanities majors at Ohio State’s main campus fell by forty-six per cent.** Tufts lost nearly fifty per cent of its humanities majors, and Boston University lost forty-two. Notre Dame ended up with half as many as it started with, while SUNY-Albany lost almost three-quarters. Vassar and Bates â?? standard-bearing liberal-arts colleges â?? saw their numbers of humanities majors fall by nearly half.”
Conservatives who have long lamented the politicization of the humanities, highlighted by the rise of women’s studies, queer studies, ethnic studies as well as the transformation of English and history into tools for the left’s vision of social justice (https://www.nytimes.com/2023/01/08/arts/american-historical-association-james-sweet.html#:~:text=A%20column%20last%20summer%20by%20James%20Sweet%2C%20the,which%20spread%20along%20racial%20and%20generational%20fault%20lines.), might be tempted to cheer this development. They might also applaud a main driver Heller and others (https://archive.is/ZTnXJ) cite for this trend (https://www.nybooks.com/online/2023/04/02/letter-from-an-english-department-on-the-brink/?utm_medium=email): **the determination of students spooked by the 2008 economic meltdown to choose majors that can help them land decent paying jobs. _Reading “Middlemarch” may be uplifting but a marketing degree pays dividends_.**
Unfortunately, something nefarious may be going on. It’s hard to believe that schools run by leftwing professors and administrators aggressively intent on telling students what they should think are passively responding to market forces. It is also not farfetched to suspect that they might be allowing the humanities to wither because it is a roadblock to the woke revolution they are advancing.
English and history have always had an inherent conservative streak: They are, almost by definition, backward-looking disciplines. They have sought to conserve and thereby connect students with what the Victorian writer Matthew Arnold called “the best that has been thought and known.” (https://www.staugustine.net/blogs/rectify-names-a-blog-on-publishing/e2809cthe-best-that-has-been-thought-and-known-e2809d-september-3-2012/#:~:text=The%20quote%20is%20from%20Matthew%20Arnold%E2%80%99s%20Culture%20and,thought%20and%20known%20in%20the%20world%20current%20everywhere...%E2%80%9D) Studying the history of ancient Greece and Rome and the art of the Renaissance, reading Shakespeare, Tolstoy, Austen, Ellison, and, of course, the Bible, show us how our ancestors’ decisions shaped our world while providing wisdom as we confront the great question: _How can I lead a good life?_
**At bottom, it is a recognition that history is ever the story,** as Faulkner put it, “of the human heart in conflict with itself,” (https://genius.com/William-faulkner-nobel-prize-acceptance-speech-annotated) and that as we search for answers to eternal questions we can find solace by turning to the giants upon whose shoulders we stand (https://www.science.edu/acellus/2018/11/newton-seeing-further/).
This mindset is problematic for the woke revolution. It holds that there is no abiding human nature or human condition; people are blank slates upon which society stamps ideas, like pieces of factory tin. It does not see us as biological creatures with innate instincts and concerns but a collection of social constructs that can be changed like hats. Utopia is possible if everyone can be made to wear the correct ideas. This forward-looking ideology has little use for the past; it was no accident that a seminal model for our woke movement, the French Revolution, abolished our Gregorian calendar and imposed its own, declaring September 1792 to be the start of Year One (https://www.abelard.org/france/revolution_calendar.php).
Amnesia is the crucial psychological state for the woke revolution. In order to control thought, language, and reality itself (https://www.realclearpolitics.com/articles/2023/03/23…
https://www.zerohedge.com/political/woke-revolution-erasing-past
**50 Million Americans Under Severe Weather Threat Into Weekend**
50 Million Americans Under Severe Weather Threat Into Weekend
Tens of millions of Americans are at risk of severe thunderstorms for the next several days. Accuweather (https://www.accuweather.com/en/severe-weather/multiday-us-severe-weather-threat-to-continue-into-this-weekend/1514082) forecasters say residents in the central Plains and the Gulf Coast to the Appalachians and mid-Atlantic could experience wicked weather, including heavy rains, high winds, hail, flooding, and even isolated tornados.
On Wednesday evening, severe storms erupted across the Plains. Multiple tornados were reported, with the worst damage across the southern part of the Oklahoma City metro area. At least two deaths were confirmed.
> Extreme Meteorologist @ReedTimmerAccu (https://twitter.com/ReedTimmerAccu?ref_src=twsrc%5Etfw) captured intense video of a #tornado (https://twitter.com/hashtag/tornado?src=hash&ref_src=twsrc%5Etfw) moving through Cole, Oklahoma. #OKwx (https://twitter.com/hashtag/OKwx?src=hash&ref_src=twsrc%5Etfw)
>
> Timmer reported at least four homes were damaged. https://t.co/AskARxxrkj (https://t.co/AskARxxrkj)pic.twitter.com/6yIdunHC8n (https://t.co/6yIdunHC8n)
>
> — AccuWeather (@accuweather) April 20, 2023 (https://twitter.com/accuweather/status/1648876748682014721?ref_src=twsrc%5Etfw)
Accuweather meteorologists expect severe storms from northeastern Texas to southern Wisconsin today, including in Chicago, St. Louis, and Little Rock, Arkansas metro areas. They noted more intense storms are expected from southern Missouri to central Texas. The timing of thunderstorms will be later this evening.
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Flash flood threats are posted through Friday for eastern Texas and Louisiana to western Kentucky and southern Indiana.
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Another storm emerges Friday and is expected traverse parts of the Gulf Coast to portions of the Appalachians, eastern Great Lakes, and even the Atlantic coast into the weekend.
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"There is some question as to whether the energy and moisture will be released primarily in the form of a period of heavy rain or a round of severe thunderstorms as the system travels northeastward from the Gulf coast this weekend," AccuWeather Senior Meteorologist Dan Pydynowski said.
On Saturday, upwards of 30 million people could be at risk of heavy rains and thunderstorms along the Atlantic Seaboard.
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Rain is welcomed for the mid-Alantic area, where a moderate drought has developed.
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...
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 18:00
https://www.zerohedge.com/weather/50-million-americans-under-severe-weather-threat-weekend
**"Lawsuit Time": Elon Musk Threatens To Sue Microsoft Over 'Illegal Use' Of Twitter Data**
"Lawsuit Time": Elon Musk Threatens To Sue Microsoft Over 'Illegal Use' Of Twitter Data
_Authored by Katabella Roberts via The Epoch Times (https://www.theepochtimes.com/elon-musk-threatens-to-sue-microsoft-over-alleged-illegal-use-of-twitter-data_5208620.html?utm_source=partner&utm_campaign=ZeroHedge&src_src=partner&src_cmp=ZeroHedge) (emphasis ours),_
Twitter CEO Elon Musk has threatened to sue Microsoft after accusing the tech giant of illegally using the social media platform’s data for training.
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_Elon Musk speaks at the 2020 Satellite Conference and Exhibition in Washington, D.C., on March 9, 2020. (Win McNamee/Getty Images)_ (
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“ **They trained illegally using Twitter data. Lawsuit time,**” Musk wrote (https://twitter.com/elonmusk/status/1648784955655192577) on Twitter on April 19, without providing further details regarding the allegations.
> They trained illegally using Twitter data. Lawsuit time.
>
> — Elon Musk (@elonmusk) April 19, 2023 (https://twitter.com/elonmusk/status/1648784955655192577?ref_src=twsrc%5Etfw)
His tweet came shortly after Microsoft announced it is removing Twitter from one of its advertising platforms. According to Microsoft’s official website, (https://help.ads.microsoft.com/apex/index/3/en/60085) starting on April 25, Smart Campaigns with Multi-platform will no longer support Twitter.
As of April 25, 2023, advertising clients will no longer be able to, “access your Twitter account through our social management tool, create and manage drafts or Tweets, view past Tweets and engagement, schedule Tweets,” the website states.
The company stopped short of providing further details as to why it has dropped Twitter from its advertising platform but noted that other social media channels such as Facebook, Instagram, and LinkedIn will continue to be available to clients.
However, **multiple media publications report that Twitter’s Application Programming Interfaces (API) fees may have been at the center of the decision.**
Changes to API
Twitter’s API (https://help.twitter.com/en/rules-and-policies/twitter-api) provides third-party companies, developers, and users with programmatic access to Twitter data and features, allowing them to create automatic tweets, search for specific hashtags and receive Twitter engagement data and regulate retweets or responses.
“ **At a high level, APIs are the way computer programs ‘talk’ to each other so that they can request and deliver information**,” Twitter states. Put simply, API provides solutions to companies or developers, allowing them to respond to customer feedback on Twitter, analyze conversations taking place on the platform and send out updates.
The software intermediary is also a valuable source for academics, according to Wired, which reports (https://www.wired.com/story/twitter-data-api-prices-out-nearly-everyone/) that there have been more than 17,500 academic papers based on the platform’s data since 2020.
Prior to Musk’s takeover of the company, Twitter had offered the program for free. However, in March, the official Twitter Developer account announced (https://twitter.com/TwitterDev/status/1641222783601631233) that the free version of the program will now only allow developers to write 1,500 tweets per month and they will no longer be able to access tweets, only create them.
Instead, a brand new set of API plans for developers was rolled out with greater access to various functions, with the highest tiers costing $210,000 (https://mashable.com/article/twitter-elon-musk-paid-enterprise-api-access-pricing) a month, according to Mashable.
Musk ‘Open to Ideas’ for API
Responding to Musk’s tweet on Wednesday, journalist Brian Krassenstein asked if the businessman has a “long-term plan” regarding the API.
_Read more **here...** (https://www.theepochtimes.com/elon-musk-threatens-to-sue-microsoft-over-alleged-illegal-use-of-twitter-data_5208620.html?utm_source=partner&utm_campaign=ZeroHedge&src_src=partner&src_cmp=ZeroHedge)_
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 17:40
**Watch: Russia Launches Video Campaign Calling For 'Real Men' To Fight In Ukraine**
Watch: Russia Launches Video Campaign Calling For 'Real Men' To Fight In Ukraine
The Russian military is on a recruitment blitz at a moment the advance of its ground forces in Ukraine is mostly stalled - though at least 80% of the strategic city of Bakhmut is now said to be in Russian hands. If completely captured, it's expected to mark a major turning-point in the war.
President Putin has yet to order anymore military mobilization or drafts since last September's 'partial mobilization' - which saw as many as 300,000 reservists called up, and which proved to be deeply unpopular given the many thousands of young men that fled the country. But now the Kremlin is looking for more professional soldiers to fight in Ukraine on a voluntary basis, and toward that end has launched a new recruitment initiative based on **a video ad campaign which is gaining widespread attention**.
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_AFP via Getty Images_ (
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The video campaign challenges Russian males on whether they are **"a real man"** and presents the dichotomy of mundane normal life in society vs. the "excitement" of the battlefield.
Reuters describes (https://english.alarabiya.net/News/world/2023/04/20/Russia-expands-war-recruitment-drive-launches-video-campaign-calling-for-real-men-) that "The ad, set to stirring music, follows a report from British military intelligence and Russian media reports that suggest Moscow is **seeking to recruit up to 400,000 professional soldiers - on a volunteer basis**\- to bolster its forces in Ukraine."
Major Russian social networking sites and state media sources have featured the ad this week.
According to estimates which are about a month old featured in a leaked US Defense Intelligence Agency document (https://www.nytimes.com/2023/04/08/us/politics/leaked-documents-russia-ukraine-war.html) (part of the recent trove of documents part of the "Discord leaks"), **Russia has lost up to 43,000 troops** in the Ukraine conflict.
Watch the new recruitment ad **calling for 'real men'** below:
> sick ad i aint gonna lie 🤷♂️ pic.twitter.com/tP9TWWr1x0 (https://t.co/tP9TWWr1x0)
>
> — War Monitor (@WarMonitors) April 20, 2023 (https://twitter.com/WarMonitors/status/1648938919776452610?ref_src=twsrc%5Etfw)
According to a further description in Reuters, the defense ministry is hoping to lure high quality warfighters with solid pay and benefits (https://www.reuters.com/world/europe/russia-expands-war-recruitment-drive-with-video-ad-calling-real-men-2023-04-20/?utm_source=Sailthru&utm_medium=Newsletter&utm_campaign=Daily-Briefing&utm_term=042023):
> _The ad, which invites men to sign a contract with the Russian defense ministry for a salary starting at 204,000 rubles ($2,495) a month, shows a man in supermarket dressed in military uniform holding a heavy machine gun. He is then shown in the uniform of a security guard with the question: **"Is this the kind of defender you dreamt of becoming?"**_
>
> _Next in the video, a man is walking through the fog with other soldiers on what looks like a battlefield. He is then shown as a gym instructor helping a client lift weights._
>
> _**"Is this really where your strength lies?"** the video asks, before cutting to a taxi driver taking a client’s fare who then transforms into a soldier on the battlefield._
>
> _**“You’re a real man. Be one,”** says the ad._
Military recruitment booths seen in places like Moscow and other major cities are now featuring themes premised on the video campaign.
The initiative suggests that Putin is unlikely to roll out with either a new general mobilization or draft in the near-future, unless things take a drastically negative turn on the battlefield, or perhaps unless NATO increases direct involvement in backing Ukrainian forces.
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 17:20
**Bank Bailout Facility Usage Rises First Time Since SVB, MM Fund Outflows Soar**
Bank Bailout Facility Usage Rises First Time Since SVB, MM Fund Outflows Soar
After last week saw The Fed's balance sheet shrink significantly (https://www.zerohedge.com/markets/fed-balance-sheet-shrinks-3rd-straight-week-bank-bailout-facility-usage-eases) back from its bank-bailout resurgence,all eyes will be back on H.4.1. report (https://www.federalreserve.gov/releases/h41/) this evening to see if things have continued to 'improve' or re-worsened amid regional bank shares unable to bounce above post-SVB lows ahead of earnings.
In a big surprise, **this week saw a $68 billion OUTFLOW from Money Market funds** \- the largest since July 2020 (after $380 billion of INFLOWS over the previous five weeks)...
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_Source: Bloomberg_
The breakdown was **$58.9 billion from Institutional funds** and **$9.72 billion from retail funds.**
That pulled assets from their $5.277 trillion record high and suggests last week's deposit INFLOWS may be about to accelerate - good news for banks?
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_Source: Bloomberg_
Added to last week's deposit inflows, this suggests - in the short-term - the banking crisis is easing (at least in the minds of investors).
However, it's never that easy, as BofA noted earlier (https://www.zerohedge.com/markets/tax-receipts-are-leaning-toward-worst-case-debt-ceiling-scenario), **it's that time of year again when corporations pull cash from MM funds to pay taxes.**
In 2022, the 3rd week of April saw $41.6bn of institutional outflows from MM funds. In 2021, the same period was institutional outflows of around $19.6 billion. 2020 was a COVID shitshow, but 2019 saw a $42.3 billion withdrawal.
So this year's $59.8 billion institutional outflow is significant in its size compared to the last few years (but the seasonal tax-driven nature of the outflow should counter any over-excitement for now).
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Though not wanting to piss all over those hopeful fireworks, we note that **reverse repo continues to rise...**
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_Source: Bloomberg_
The most **anticipated financial update of the week** \- the infamous H.4.1. showed **the world's most important balance sheet shrank for the 4th straight week last week, by $21.5 billion,** slightly more than last week's tumble (helped by a **$17bn QT**)...
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_Source: Bloomberg_
Looking at the actual reserve components that were provided by the Fed, we find that **Fed backstopped facility borrowings ACTUALLY ROSE last week** from $139 billion to $144 billion (still massively higher than the $4.5 billion pre-SVB)...
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_Source: Bloomberg_
...but the composition shifted, as **usage of the Discount Window rose by $1.6 billion to $69.9 billion** (upper pane below) along with **a $2.1 billion increase in usage of the Fed's brand new Bank Term Funding Program, or BTFP, to $73.98 billion** (middle pane) from $79.0 billion last week. Meanwhile, other credit extensions - consisting of Fed loans to bridge banks established by the FDIC to resolve SVB and Signature Bank were unchanged at $173BN (lower pane)...
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Scanning down the H.4.1, we note that Foreign repo was down $10BN to $20BN (though it is still troubling that some bank still needs this much USD) and Other Fed Assets rose $2.2 billion (after falling last month)...
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With the MM outflows, deposit inflows, and Fed balance sheet shrinking again, it appears the 'banking crisis' is over.…
**Biden's Fired They/Them Luggage-Stealing Nuke Official To Undergo Mental Health Evaluation**
Biden's Fired They/Them Luggage-Stealing Nuke Official To Undergo Mental Health Evaluation
Sam Brinton, the Biden administration's fired luggage-stealing nuke official **who was busted wearing a fashion designer's clothes** he stole from her luggage, will undergo a mental health evaluation as part of an adult diversion program in Minnesota.
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Brinton, who identifies as nonbinary and uses "they/them" pronouns was ordered to undergo the treatment after a Monday hearing at the Hennepin County Court, which stemmed from a September luggage theft incident at Minneapolis St. Paul International Airport, _Fox9_ (https://www.fox9.com/news/fmr-doe-official-who-took-luggage-from-msp-enters-diversion) reported. Brinton will also **need to write a letter of apology to the victim, return any stolen property, and perform three days of community service** under the program for adult, first-time, nonviolent offenders.
Brinton faced up to **five years in prison** had his felony theft case proceeded to trial.
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In February, fashion designer Asya Khamsin called out Brinton - posting **photos of him wearing her designs following a 2018 luggage theft incident** at Ronald Reagan Airport in Virginia.
> My name is Asyakhamsin tanzanian fashion designer based in houston Texas USA 🇺🇸 I lost my bag 2018 in DCA recently I heard the news on @FoxNews (https://twitter.com/FoxNews?ref_src=twsrc%5Etfw) about @sambrinton (https://twitter.com/SamBrinton?ref_src=twsrc%5Etfw) luggage issue surprisingly I found his images wore my custom made outfitswhich was in the lost bag on 2018 🥹 pic.twitter.com/lJwLHtMJlz (https://t.co/lJwLHtMJlz)
>
> — asyakhamsin (@asyakhamsin1) February 20, 2023 (https://twitter.com/asyakhamsin1/status/1627541483245936642?ref_src=twsrc%5Etfw)
> pic.twitter.com/loQiqULFC9 (https://t.co/loQiqULFC9)
>
> — asyakhamsin (@asyakhamsin1) February 22, 2023 (https://twitter.com/asyakhamsin1/status/1628488250380763138?ref_src=twsrc%5Etfw)
Prosecutors alleged that Brinton was caught on security cameras on the afternoon of September 16 with **another passenger's navy blue Vera Bradley suitcase,** which he stole from the baggage carousel before removing the owner's ID tag and walking away.
After police tracked Brinton down to the InterContinental St. Paul Riverfront Hotel and confronted him, he initially denied taking the luggage. Two hours later, however, he called police back and apologized for not being "completely honest." He said the theft was an accident, and that they were willing to return it and its contents, valued at $2,325.
Last week, Brinton pleaded **no contest in another case,** after stealing a woman's suitcase at Harry Reid International Airport in Las Vegas in July, 2022. He was handed a 180-day suspended sentence and ordered to pay $3,670.74 in restitution to the victim.
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 15:45
**Is This The Tipping Point?**
Is This The Tipping Point?
_Authored by Peter Reagan via__Birch Gold Group_ (https://www.birchgold.com/) _,_
After almost 15 years of Fed-fueled cheap money offered at near-zero rates that was leveraged into overinflated speculative bubbles (https://www.birchgold.com/news/deflating-bubble/), the lights are on, the crowd is dispersing – and the party might finally be over (https://www.birchgold.com/news/less-bad-news/).
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At an _actual_ party, it’s easy to know when it’s time to say your goodbyes. The hosts turn the music off, start looking at their watches and taking away the snacks.
In this _metaphorical_ party, though, how do you know when it’s over?
Analysts describe the end as a “Minsky Moment (https://www.investopedia.com/terms/m/minskymoment.asp),” defined as:
> the onset of a market collapse brought on by the reckless speculative activity that defines an unsustainable bullish period. Minsky Moment is named after economist Hyman Minsky and defines the point in time where **the sudden decline in market sentiment inevitably leads to a market crash**. \[emphasis added\]
The two most important words there, I think, are “sudden” and “inevitably.”
Experts from JP Morgan (https://finance.yahoo.com/news/jpmorgan-kolanovic-sees-increasing-chances-201003489.html) think the moment is now:
> Bank failures, market turmoil and ongoing economic uncertainty as central banks battle high inflation have increased the chances of a “Minsky moment,” according to JPMorgan Chase & Co.’s Marko Kolanovic.
In the past week, investors have contended with several U.S. bank bailouts, market volatility, the collapse of Credit Suisse and the European Central Bank’s 50 basis-point rate hike.
The Fed’s decision to increase rates this week will likely provide yet another concern to Kolanovic and his team.
Obviously, this isn’t the first time that a Minsky Moment has happened in the U.S. The U.S. has experienced a handful (https://www.washingtonpost.com/business/2023/03/21/explainer-what-s-a-minsky-moment-and-why-markets-worry-about-one/6aec648c-c7d3-11ed-9cc5-a58a4f6d84cd_story.html) in the past, some of which you’ll remember if there’s enough gray in your hair:
> In 1998, following the bursting of asset bubbles in Asia, Russia defaulted on its domestic debt and devalued the ruble. (It was during that crisis that Paul McCulley, then an economist at Pacific Investment Management Co., coined the term “Minsky moment.”)
>
> The global financial crisis of 2007-2008 is considered another Minsky moment, since it was caused by the implosion of the U.S. subprime mortgage market.
Since 2008, we’ve talked a lot about a “Lehman moment” – referring to the collapse of white-shoe Wall Street investment bank Lehman Brothers, which notably wasn’t bailed out by the Fed or the Treasury Department. It’s the same thing.
It doesn’t matter what we _call_ that tipping point, that event or that day when everyone finally recognizes the party’s really over, tries to leave at the same time and gets jammed at the exits.
When you read the context above, take note of the common elements in both prior Minsky Moments; debt and bubbles. It looks as though both of those elements are making a return appearance right now.
All Minsky Moments have one thing in common
I discussed the “everything bubble” and its consequences in May of last year (https://www.birchgold.com/news/deflating-bubble/). (It didn’t really take a crystal ball to see it coming, though – all you need is a grasp of how financial markets work and a little history).
Like those before and, presumably, future Minsky Moments, the one thing they have in common is **debt** (https://www.washingtonpost.com/business/2023/03/21/explainer-what-s-a-minsky-moment-and-why-markets-worry-about-one/6aec648c-c7d3-11ed-9cc5-a58a4f6d84cd_story.html):
> Massive borrowing around the world since the financial crisis – much of it in response to the coronavirus pandemic and its aftermath – has prompted warnings of another Minsky moment to come. **The surge was made possible by ultra-easy monetary policy –** central banks slashing interest rates – **and governments turning on the spending taps**. Rising interest rates over the past year as the Federal Reserve and European Central Bank battled inflation have made debt burdens heavier. \[emphasis added\]
_(If you’re a regular reader, you know all this already.)_
When ultra-easy monetary policy makes credit and borrowing overabundant, a bubble forms. Instead of being incentivized to save money, the combination of inflation and rising asset prices sends money flooding into increasingly speculative gambles.
When rates go up, like the…
**US Equity Futures Slide As Global Risk Sentiment Turns Sour**
US Equity Futures Slide As Global Risk Sentiment Turns Sour
US equity futures suffered their biggest overnight drop this week as a premarket slide in Tesla shares added to uncertainties surrounding the future of US monetary policy as well as the overall quality of the first-quarter earnings season. Contracts on the S&P 500 fell 0.7% as of 7:00 a.m. in New York while Nasdaq 100 futures took a 1% hit. Elsewhere, bond yields were lower, the USD was lower, and commodities were weaker on global demand fears.
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In premarket trading, Tesla slid as much as 8.5% and were down -6% at last check, after the EV maker’s first-quarter results were hit by a slew of price cuts, denting profit margins and prompting at least six analysts - including Morgan Stanley's Adam Jonas - to cut their price targets. MegaCap techs are also dragging indices lower with most names down 1%, or more. Bed Bath & Beyond shares tumbled 19% in premarket trading after Dow Jones reported that the retailer is preparing a bankruptcy filing for as early as this weekend. The stock had soared almost 100% in the three days prior. Here are some other premarket movers:
- Chip stocks decline in after Asian bellwether TSMC gave a disappointing revenue forecast for the current quarter amid a slump in demand for electronics.
- IBM rises as much as 2.2% after the IT services company reported first-quarter results that analysts say show positive growth trends.
- Las Vegas Sands rises as much as 4.8%, after the casino operator’s first-quarter earnings beat expectations and boosted hopes that a recovery in Macau and in Singapore is gaining momentum. Analysts hiked their price targets on the stock.
- Bath & Body Works drops 3.7% after Piper Sandler cuts its rating to neutral, with consensus estimates for the personal care products maker seen as “simply just too high.”
- Charles Schwab shares fall as much as 1.7% after Redburn downgraded the brokerage to sell from neutral, citing challenges from the Fed’s tightening cycle and the re-regulation of midsize banks.
- Cryptocurrency-exposed stocks fall and are poised to extend losses as Bitcoin dives further below the closely watched $30,000 level.
With better Bank earnings and a lackluster start from Tech earnings, the market seemingly remains stuck in near-term range of 3800 – 4200, with the SPX failing at 4150 level. Next week’s tech earnings will be the litmus test for bears and bulls.
Meanwhile, hawkish Fedspeak continues with some estimating 25bps – 50bps, or more, hikes remaining. Investors are seeking comfort whether policymakers will address growing recession worries, such as those flagged by the Federal Reserve’s monthly Beige Book survey which clearly noted that a credit crunch has arrived, or keep on fighting inflation as suggested by Fed Bank of New York President John Williams, who said price gains remained too high.
**“We’re in a paradoxical situation,”** said Alexandre Hezez, chief investment officer at Group Richelieu, a Paris-based asset manager. “ **If the Fed keeps on raising rates it’s not positive as it would mean we’re not done with inflation yet, but if it cuts, that would mean there are recessionary forces around.”** The best path forward would be “a status quo” for the coming months, after a 25 basis-point hike in May, Hezez said, noting strong divergences on the matter among the Federal Open Market Committee.
European stocks are on course for their largest fall in almost four weeks amid tepid earnings and the prospect of additional monetary tightening. The Stoxx 600 is down 0.3% with autos, miners and tech the worst performing sectors while Renault and Nokia have fallen sharply after their respective quarterly updates. Here are the most notable European movers:
- Renault shares fall as much as 7.9% as pricing concerns offset positives from the first-quarter sales beat, with analysts questioning the sustainability of the French carmaker’s pricing
- Tryg shares rise as much as 4.7% with analysts saying the Danish insurer’s better-than-expected profit, dividend and combined operating ratio all make for a reassuring update
- Haleon shares rise as much as 3% in early trading to hit a record high. The consumer health group’s first-quarter update is strong and shows good momentum for the group, analysts say
- Bankinter jumps as much as 5%, kicking off 1Q earnings season for European banks with a strong set of numbers and analysts pointing to a net interest income beat
- Getlink shares gain as much as 2.8% after the French cross-channel transport operator reported a 1Q revenue beat and management maintained its Ebitda outlook
- Rexel shares rise as much as 3.8% after it re…
https://www.zerohedge.com/markets/us-equity-futures-slide-global-risk-sentiment-turns-sour
**Why 60/40: Visualizing 90 Years Of Stock & Bond Portfolio Performance**
Why 60/40: Visualizing 90 Years Of Stock & Bond Portfolio Performance
Last year, stock and bond returns tumbled after the Federal Reserve hiked interest rates at the fastest speed in 40 years. **It was the first time in decades that both asset classes posted negative annual investment returns in tandem.**
Over four decades, this has happened **2.4%** of the time across any 12-month rolling period.
To look at how various stock and bond asset allocations have performed over history - and their broader correlations - the graphic below, via Visual Capitalist's Dorothy Neufeld, (https://advisor.visualcapitalist.com/investment-returns-over-history/) charts their best, worst, and average returns, using data from Vanguard (https://advisors.vanguard.com/VGApp/iip/advisor/csa/analysisTools/portfolioAnalytics/historicalRiskReturn).
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How Has Asset Allocation Impacted Returns?
Based on data between 1926 and 2019, the table below looks at the spectrum of market returns of different asset allocations:
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We can see that a portfolio made entirely of stocks returned **10.3%** on average, the highest across all asset allocations. Of course, this came with wider return variance, hitting an annual low of -43% and a high of 54%.
A traditional 60/40 portfolio - which has lost its luster in recent years as low interest rates have led to lower bond returns - saw an average historical return of **8.8%**. As interest rates have climbed in recent years, this may widen its appeal once again as bond returns may rise.
Meanwhile, a 100% bond portfolio averaged **5.3%** in annual returns over the period. Bonds typically serve as a hedge (https://advisor.visualcapitalist.com/visualized-how-bonds-help-reduce-bear-market-risk/) against portfolio losses thanks to their typically negative historical correlation to stocks.
A Closer Look at Historical Correlations
To understand how 2022 was an outlier in terms of asset correlations we can look at the graphic below:
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The last time stocks and bonds moved together in a negative direction was in 1969. At the time, inflation was accelerating and the Fed was hiking interest rates to cool rising costs. In fact, historically, when inflation surges, stocks and bonds have often moved in similar directions.
Underscoring this divergence is real interest rate volatility. When real interest rates are a driving force (https://www.visualcapitalist.com/comparing-the-speed-of-u-s-interest-rate-hikes/) in the market, as we have seen in the last year, it hurts both stock and bond returns. This is because higher interest rates can reduce the future cash flows of these investments.
Adding another layer is the level of risk appetite among investors. When the economic outlook is uncertain and interest rate volatility is high, investors are more likely to take risk off their portfolios and demand higher returns for taking on higher risk. This can push down equity and bond prices.
On the other hand, if the economic outlook is positive, investors may be willing to take on more risk, in turn potentially boosting equity prices.
Current Investment Returns in Context
Today, financial markets are seeing sharp swings as the ripple effects of higher interest rates are sinking in.
For investors, historical data provides insight on long-term asset allocation trends. Over the last century, cycles of high interest rates (https://advisor.visualcapitalist.com/us-interest-rates/) have come and gone. Both equity and bond investment returns have been resilient for investors who stay the course.
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 06:55
https://www.zerohedge.com/markets/why-6040-visualizing-90-years-stock-bond-portfolio-performance
**Fed Governor Says CBDC Risks Likely Greater Than Benefits**
Fed Governor Says CBDC Risks Likely Greater Than Benefits
Via PYMNTS.com, (https://www.pymnts.com/cbdc/2023/federal-reserve-governor-says-cbdc-risks-likely-greater-than-benefits/)
It’s unlikely that the benefits of a central bank digital currency (CBDC) would be greater than the potential risks.
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So said Federal Reserve (https://www.federalreserve.gov/aboutthefed.htm) Governor Michelle W. Bowman (https://www.federalreserve.gov/aboutthefed/bios/board/bowman.htm) on Tuesday (April 18) during a speech (https://www.federalreserve.gov/newsevents/speech/bowman20230418a.htm) at Georgetown University.
> _“From my perspective, there **could be some promise for wholesale CBDCs in the future for settlement of certain financial market transactions** and processing international payments,” Bowman said._
>
> _“When it comes to some of the broader design and policy issues, **particularly those around consumer privacy** and impacts on the banking system, **it is difficult to imagine a world where the trade-offs between benefits and unintended consequences could justify a direct access CBDC** for uses beyond interbank and wholesale transactions,” Bowman added._
Noting that it remains imperative to study the potential for a U.S. CBDC, Bowman said there are several instances in which it’s likely a CBDC would not be the best solution for a problem.
For example, while some look to CBDCs to make payments faster while reducing cost and friction, these goals can be accomplished with the upcoming launch of the Federal Reserve’s FedNow Service, Bowman said.
Others speculate that a U.S. CBDC could improve financial inclusion, but 95% of U.S. households have at least one member with a bank account, and the remainder are unbanked because they don’t want a bank account or they don’t trust banks, Bowman said.
> _**“I think it is unlikely that this group would find the government somehow more trustworthy than highly regulated banks,”** she added._
Another common proposal is that a CBDC could be used to achieve policy objectives — for example, by providing government benefits or payments that could be used only during a given time frame before expiring, Bowman said.
> _**“Enabling this type of limit through a CBDC would stand in stark contrast to the flexibility and freedom embedded in physical currencies or bank deposits and could serve to control or even harm consumers and businesses,”** she said._
The U.S. Congress will soon be considering CBDCs as well. A piece of crypto legislation (https://www.pymnts.com/news/regulation/2023/stablecoin-bill-enters-congress-united-states-lawmakers-eye-cryptocurrency-future/) published Saturday (April 15) includes a request by the U.S. Treasury to study the feasibility and working impact of a digital dollar CBDC.
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 06:30
https://www.zerohedge.com/crypto/fed-governor-says-cbdc-risks-likely-greater-benefits
**Tibetan Police Mass-Collect DNA And Lawmakers Say U.S. Firm Is Helping**
Tibetan Police Mass-Collect DNA And Lawmakers Say U.S. Firm Is Helping
_Authored by Susan Crabtree via RealClear Wire (https://www.realclearwire.com/articles/2023/04/19/tibetan_police_mass-collect_dna_and_lawmakers_say_us_firm_is_helping__149123.html),_
Legendary actor and humanitarian Richard Gere recently made a splash during a visit to Capitol Hill. Sporting a floppy, now pure-white mane of hair, the 73-year-old Gere flashed his still-boyish grin to members of Congress, staff, and visitors who flocked to see him, many snapping photos with the Golden Globe winner which they quickly shared on social media.
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While Gere, who chairs the board of directors for the International Campaign for Tibet, graciously embraced the attention, he had a far more serious message and tone while testifying before the Congressional-Executive Commission on China, the reason for his Washington visit.
For more than four decades, the “Officer and a Gentleman” and “Pretty Woman” star has used his international fame to urge the global community to do more to help protect the people of Tibet from the Chinese government’s attempts to wipe out their language, culture, and religion.
**Even though the Tibetans have long resisted Chinese repression, the CCP has recently instituted more systematic and sophisticated methods**, utilizing finely tuned digital spying and tracking technology to monitor every citizen’s movements, phone calls, texts, and Internet habits, Gere said.
“China’s surveillance no longer halts at the Tibetan border,” Gere told the commission in late March. “The CCP’s techno-authoritarianism and fear tactics extend to Tibetan communities abroad. This oppression is being perpetrated behind a digital iron curtain to hide reality on the ground. The development of these systems of repression, reaching all the way around the world, reflects the lengths the CCP will go to dismantle the Tibetan civilization.”
China’s escalating repression in Tibet is part of Chinese President Xi Jinping’s increasingly harsh crackdown against all forms of religion. Over the last few years, news headlines have mainly focused on the more than 1 million Uyghur Muslims incarcerated in labor camps. Xi also has intensified the decades-long persecution of Tibetan Buddhists and practitioners of Falun Gong, a meditative spiritual discipline, and Chinese authorities are stepping up attacks and intimidation tactics against underground Christian churches, targeting both Protestants and Catholics.
Beijing’s assault on Tibetan Buddhism has evolved since its 1950 military invasion, the witnesses testified, transitioning **from destroying religious institutions and banning gatherings and practices to one of tight control with the goal of eliminating core attributes of Buddhism and co-opting Tibetan Buddhists’ rights to determine their own leaders.**
Testifying at the same hearing, Pnepa Tsering, the Sikyong, or head of the Tibetan government in exile, said Chinese authorities are trying to speed up the assimilation of the Tibetan people through large-scale forced relocations of Tibetans from their traditional homeland to Chinese territories and other parts of Tibet.
At the same time, the Chinese government is providing Han Chinese citizens incentives to move to Tibet and is either coercing or forcing children across Tibet into colonial-style boarding schools far away from their families or transferring them to areas in China.
Several witnesses, including Lhadon Tethong, director of the Tibet Action Institute, and Tenzin Dorjee, a senior researcher and strategist at the same group, cited their organization’s groundbreaking 2021 report, which found that 80% of Tibetan children are educated in a vast system of boarding schools run by the CCP, separated from their families and culture. Some as young as four years, Dorjee testified, are forced to take classes that include nursery rhymes and bedtime stories recited only in Mandarin in an all-Chinese environment that includes participating in war re-enactments dressed in Red Army suits.
During the hearing, Rep. Chris Smith, a New Jersey Republican and longtime human rights champion who chairs the commission, cited a 2022 State Department report (https://www.state.gov/wp-content/uploads/2023/03/415610_TIBET-2022-HUMAN-RIGHTS-REPORT.pdf) finding that **the CCP has effectively placed Tibetan Buddhism under central government control and subjected Tibetan women to “coerced abortion or forced sterilization.”**
At the end of his testimony, Gere urged members of Congress to follow the money – and scrutinize U.S. and Chinese business interests and any ongoing role these ties have played i…
**The UK Will Have Enough Natural Gas For The Summer**
The UK Will Have Enough Natural Gas For The Summer
_Authored by Tsvetana Paraskova via OilPrice.com,_ (https://oilprice.com/Energy/Energy-General/The-UK-Will-Have-Enough-Natural-Gas-For-The-Summer.html)
The UK will have enough natural gas supply to meet demand this summer, with supply coming mostly from the UK North Sea and Norway, supplemented by LNG imports, the UK’s National Gas Transmission said in its Summer Outlook 2023 (https://www.nationalgas.com/document/142996/download).
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Moreover, National Gas Transmission expects to see sustained flows of gas from the UK into Europe this summer.
> _“ **We are anticipating that the NTS could again be used as a transit for gas flows going into Europe,** however, we don’t expect demand for exports from GB will be as high as it was last year,” the company said._
Yet, it is unclear what level of exports we will see going to the EU over the summer, according to the report.
Last summer saw record levels of UK gas exports to the EU via the interconnectors due to the low storage stocks across the EU at the end of the 2021/2022 winter and supply concerns after Russia started to slash exports via pipelines to Europe, National Gas Transmission said.
This summer, the outlook looks brighter, at least for now, thanks to the high level of gas stockpiles in Europe at the end of this winter.
> _“There are hints of greater stability in the energy market going forward as price differentials narrow and forward price curves reduce,” Ian Radley, System Operations Director at National Gas Transmission, said in the report._
The summer period – from April to September – tends to be a period when the UK sees lower demand on the National Transmission System (NTS) due to warmer weather, as people require less gas to heat their homes.
In a separate report today, the UK’s National Grid ESO said (https://www.nationalgrideso.com/document/278876/download) it expects there would be sufficient available supply to meet demand at all times this summer.
_“We expect to be able to support exports to neighbouring European countries if needed, continuing the close-working and coordinated support with our neighbouring Transmission System Operators from last summer and winter,”_ National Grid said in its 2023 Summer Outlook.
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 05:00
https://www.zerohedge.com/energy/uk-will-have-enough-natural-gas-summer
**MTG Bares Fang-Fangs, Throws House Meeting Into Chaos Over Swalwell 'Sexual Relationship With A Chinese Spy'**
MTG Bares Fang-Fangs, Throws House Meeting Into Chaos Over Swalwell 'Sexual Relationship With A Chinese Spy'
All hell broke loose during a Homeland Security Committee meeting on Wednesday, when Rep. Marjorie Taylor Greene accused Rep. Eric Swalwell (D-CA) of 'having a sexual relationship with a Chinese spy.'
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"That was quite entertaining from someone that had a sexual relationship with a Chinese spy. And everyone knows it!" Greene said, kicking off her five minutes of allotted time.
> _New York Democrat Daniel Goldman immediately offered a motion to have her words “taken down,” which would strike them from the official hearing record and bar her from speaking further. The committee’s GOP majority voted to table the motion, and Ms Greene was permitted to resume speaking. -Independent (https://www.independent.co.uk/news/world/americas/us-politics/marjorie-taylor-greene-gop-homeland-security-b2322874.html)_
> 🚨WATCH🚨@mtgreenee (https://twitter.com/mtgreenee?ref_src=twsrc%5Etfw) calls out @ericswalwell (https://twitter.com/ericswalwell?ref_src=twsrc%5Etfw) for having a 'sexual relationship with a Chinese spy'
>
> GREENE: "That was quite entertaining from someone that had a sexual relationship with a Chinese spy. And everyone knows it!"
>
> The Committee refused to strike her words from the… pic.twitter.com/y92z0okBwA (https://t.co/y92z0okBwA)
>
> — Daily Caller (@DailyCaller) April 19, 2023 (https://twitter.com/DailyCaller/status/1648721136710983680?ref_src=twsrc%5Etfw)
Swalwell allegedly **banged an alleged Chinese spy (https://www.zerohedge.com/political/nevertrump-rep-swalwell-claims-blockbuster-axios-chinese-spy-report-trump-disinfo?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29)** who helped him fundraise in 2014. After an FBI briefing on the woman, the top Democrat said he cut all ties with the woman - Christine Fang, also known as **Fang Fang.**
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The relationship caused then-House minority leader Kevin McCarthy (R-CA) to call for Swalwell's removal from Congress - asking _Fox News_ host Laura Ingraham; "Why is he still on the Intel Committee and why is he still a member of Congress?”
Mccarthy noted that the intel committee has access to information that no one else does.
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_**“Remember what the intel committee gets. Information that no other members are able to see,”**_ McCarthy said. “And remember what this member did. **He was so preoccupied going after this president he was not protecting our country from bad actors.”**
> .@GOPLeader (mailto:.@GOPLeader) Kevin McCarthy on China planting a spy in Congress: @RepSwalwell (https://twitter.com/RepSwalwell?ref_src=twsrc%5Etfw) should be "removed from Congress" \[via @IngrahamAngle (https://twitter.com/IngrahamAngle?ref_src=twsrc%5Etfw)\] pic.twitter.com/2m9c5tojcJ (https://t.co/2m9c5tojcJ)
>
> — Tom Elliott (@tomselliott) December 9, 2020 (https://twitter.com/tomselliott/status/1336662511156932609?ref_src=twsrc%5Etfw)
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 04:22
**"Say Goodbye To Awkward Dates": GPT-4 Powered Smart Glasses Tell You What To Say**
"Say Goodbye To Awkward Dates": GPT-4 Powered Smart Glasses Tell You What To Say
Students at Stanford University have developed smart glasses that provide users with appropriate responses for conversations through an optics lens connected to a smartphone running OpenAI's GPT-4 large language model.
Stanford student Bryan Hau-Ping Chiang tweeted (https://twitter.com/bryanhpchiang/status/1639832939294003201) the smart glasses are called "rizzGPT -- real-time Charisma as a Service (CaaS) ... it listens to your conversation and tells you exactly what to say next ... built using GPT-4, Whisper and the Monocle AR glasses."
He said, "Say goodbye to awkward dates and job interviews."
> say goodbye to awkward dates and job interviews ☹️
>
> we made rizzGPT -- real-time Charisma as a Service (CaaS)
>
> it listens to your conversation and tells you exactly what to say next 😱
>
> built using GPT-4, Whisper and the Monocle AR glasses
>
> with @C51Alix (https://twitter.com/C51Alix?ref_src=twsrc%5Etfw)@varunshenoy\_ (https://twitter.com/varunshenoy_?ref_src=twsrc%5Etfw)pic.twitter.com/HycQGGXT6N (https://t.co/HycQGGXT6N)
>
> — Bryan Hau-Ping Chiang (@bryanhpchiang) March 26, 2023 (https://twitter.com/bryanhpchiang/status/1639830383616487426?ref_src=twsrc%5Etfw)
Chiang explained the monocle-like device can "clip onto any pair of glasses + has a camera, microphone, and high-res display."
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OpenAI's speech recognition software, Whisper, runs in the background on the phone and allows the glasses to show proper responses to say in a matter of seconds to its wearer.
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The Stanford student provided a diagram of how the technology works.
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And these glasses would be perfect for President Biden, whose answers to questions are sometimes 'incoherent mumbling.'
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 04:15
**UN, Globalists Seek To Decriminalise Sex With Minors**
UN, Globalists Seek To Decriminalise Sex With Minors
_Authored by Steve Wastson via Summit News,_ (https://summit.news/2023/04/18/un-globalists-seek-to-decriminalise-sex-with-minors/)
**In tandem with another globalist organisation, two UN bodies have published a report that outlines an agenda to decriminalise all ‘consensual’ sexual activity, even between adults and minors.**
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While it is couched in ‘human rights’ and ‘trans rights’, the report outlines a strategy that would effectively make Pedophilia legal.
Fox News reports (https://www.foxnews.com/lifestyle/un-backed-legal-recommendations-normalize-sex-minors-critics-say) that “international legal experts” working for the Geneva-based International Commission of Jurists (ICJ), along with UNAIDS and the Office of the United Nations High Commissioner for Human Rights (OHCHR), made the suggestions in a recent report (https://icj2.wpenginepowered.com/wp-content/uploads/2023/03/8-MARCH-Principles-FINAL-printer-version-1-MARCH-2023.pdf) titled “The 8 March Principles for a Human Rights-Based Approach to Criminal Law Proscribing Conduct Associated with Sex, Reproduction, Drug Use, HIV, Homelessness and Poverty.”
**The report calls for offenses pertaining to “sex, drug use, HIV, sexual and reproductive health, homelessness and poverty” to be decriminalized.**
The document does not offer a suggested age of sexual consent, but states that _**“Sexual conduct involving persons below the domestically prescribed minimum age of consent to sex may be consensual in fact, if not in law.”**_
> Take notice of who remains silent about this. That means they support pedophilia.
>
> — Ian Miles Cheong (@stillgray) April 16, 2023 (https://twitter.com/stillgray/status/1647416906696249344?ref_src=twsrc%5Etfw)
The report further suggests that lawyers, judges, and law enforcement should take into account **“the rights and capacity of persons under 18 years of age to make decisions about engaging in consensual sexual conduct and their right to be heard in matters concerning them.”**
“Pursuant to their evolving capacities and progressive autonomy, persons under 18 years of age should participate in decisions affecting them, with due regard to their age, maturity and best interests, and with specific attention to non-discrimination guarantees,” it further states.
> It’s a weird document as they define an adolescent 10-19 yrs, personally I think a 10 yr old is a kid not an adolescent . How can a 10yr old consent to something they don’t understand? I find the bits I’ve read deliberately vague.
>
> — Right Said Fred (@TheFreds) April 16, 2023 (https://twitter.com/TheFreds/status/1647650596390830081?ref_src=twsrc%5Etfw)
The report was published on International Women’s Day:
> Launched on IWD, this hideous UN Report, foreword by Edwin Cameron seeks to decriminalise sex - even between children & adults.
>
> They have the temerity to call it 'The 8 March Principles' gaslighting women everywhere.
>
> Evil.https://t.co/TkvA3POdcb (https://t.co/TkvA3POdcb)
>
> — Michelle Uriarau (@singlikeadiva) April 15, 2023 (https://twitter.com/singlikeadiva/status/1647312448737902592?ref_src=twsrc%5Etfw)
> The UN is full of pedophiles!!!! https://t.co/9z6l6AGW8k (https://t.co/9z6l6AGW8k)
>
> — Theo Fleury (@TheoFleury14) April 16, 2023 (https://twitter.com/TheoFleury14/status/1647450012983656449?ref_src=twsrc%5Etfw)
In an accompanying press release (https://www.unaids.org/en/resources/presscentre/featurestories/2023/march/20230308_new-legal-principles-decriminalization), Ian Seiderman, Law and Policy Director at ICJ noted that “Criminal law is among the harshest of tools at the disposal of the State to exert control over individuals … as such, it ought to be a measure of last resort however, globally, there has been a growing trend towards overcriminalization,” adding “We must acknowledge that these laws not only violate human rights, but the fundamental principles of criminal law themselves.”
Having sex with minors is “overcriminalized” is it?
**They lumped it in there with everything else, including abortion, which the report argues “must be taken entirely out of the purview of the criminal law,” along with making punishments less harsh for pregnant women who consume drugs or alcohol when they know they are expecting a child.**
A spokesperson for the bodies who produced the report told Fox News that “The process of elaboration…included expert jurists, academics, legal practitioners, human rights defenders and various civil society organizations working in diverse legal traditions,” and that the report was “developed over a five-ye…
https://www.zerohedge.com/geopolitical/un-globalists-seek-decriminalise-sex-minors
**EU Readies Levies On High-Carbon Imports... To Pressure Rest Of World On Climate Change**
EU Readies Levies On High-Carbon Imports... To Pressure Rest Of World On Climate Change
The European Parliament has now approved legislation to **phase in a levy on high-carbon imports based on the CO2 emitted in producing them.**
_As Statista's Martin Armstrong notes,_ (https://www.statista.com/chart/27842/imports-contribution-to-carbon-emissions-in-the-eu/) the law is a world-first and awaits final approval from EU countries - expected within a few weeks.
(https://www.statista.com/chart/27842/imports-contribution-to-carbon-emissions-in-the-eu/)
_You will find more infographics at Statista (https://www.statista.com/chartoftheday/)_
**The tax aims to put pressure on countries outside of EU borders to put a price on CO2 emissions - while also countering the benefits to EU industries relocating to regions with weaker environmental laws.**
As reported by the Wall Street Journal:
> _"The tax gives credit to countries that put a price on carbon, allowing importers of goods from those countries to deduct payments made for overseas emissions from the amount owed at the EU’s borders."_
If we take into account the size of the population, **China emits 2 times more carbon dioxide (https://www.statista.com/topics/5770/global-greenhouse-gas-emissions/) per capita than the world average**, the EU 1.5 times more and the United States 3 times more.
But these figures do not account for emissions associated with imported goods and services, for which much of the production (and carbon footprint) is located in manufacturing countries that still rely heavily on fossil fuels.
When including the impact of products that are used locally but manufactured abroad, **the carbon footprint per capita in the EU (https://www.statista.com/topics/4958/emissions-in-the-european-union/) is higher than in China:** 11 tons of CO2 equivalent per year compared to 8.
**The figure for the United States is 21 tons.**
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Thu, 04/20/2023 - 02:45
**Massive Protest Sees Demonstrators Call For Czech Government's Resignation**
Massive Protest Sees Demonstrators Call For Czech Government's Resignation
_Authored by Robert Semonsen via EuropeanConservative.com,_ (https://europeanconservative.com/articles/news/massive-protest-sees-demonstrators-call-for-czech-governments-resignation/)
Amid mounting economic woes, thousands of flag-waving Czechs filled Prague’s iconic Wenceslas Square on Sunday afternoon to demand the resignation of the country’s five-party coalition government, with many urging peace in Ukraine and for the Czech Republic to leave NATO.
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Organized by the new non-parliamentary party Law, Respect, Expertise (PRO), the rally, the second (https://www.france24.com/en/live-news/20230311-thousands-join-anti-government-protest-in-prague) of its kind to take place in just over a month, saw thousands of people—under the banner “against poverty”—gather in the capital city’s main square, before walking to the Straka Academy, the seat of the government, the online newspaper _iDNES_reports (https://www.idnes.cz/zpravy/domaci/lide-pro-demonstrace-protest-vaclavske-namesti-jindrich-rajchl.A230414_160942_domaci_idvs).
Protesters, most of whom accuse Prime Minister Petr Fiala’s center-Right government of being overly concerned with Ukraine while neglecting the needs of Czechs, were seen carrying banners with the words _**“Away with NATO,” “No war,” and “Lying government and media.”**_
> An anti-government rally under the slogan "Czech Republic Against Poverty" is taking place in Prague.
>
> people are trying to draw the attention of the authorities to the fact that ordinary citizens have been hit by an increase in the price of energy, food, fuel and services. pic.twitter.com/aZ3YBJLWH6 (https://t.co/aZ3YBJLWH6)
>
> — Spriter (@Spriter99880) April 16, 2023 (https://twitter.com/Spriter99880/status/1647643202063663104?ref_src=twsrc%5Etfw)
“We are here to stand up for our country and for our Czech Republic. We want to take down the five-coalition Fiala government with a non-violent civil protest,” Jindrich Rajchl, a lawyer who serves as the head of the PRO party, said at the beginning of his speech.
_**“Collect the last remnants of your honor, realize that you are not up to \[the task\], and resign,”**_ he said, referring to Fiala’s government.
Rajchl, the main organizer of the event, **called (https://www.voanews.com/a/thousands-turn-out-for-anti-government-protest-in-prague-/7052638.html?fbclid=IwAR3V0cHrmd0rFDCKqY3CpxIs9R8A9O_jTmTm4erScp0c8Wrt1OLfqi9m4iU) Czech Defense Minister Jana Cernochova “the biggest security risk for our country”** due to her pro-war stance. Rajchl rejected (https://www.voanews.com/a/thousands-turn-out-for-anti-government-protest-in-prague-/7052638.html?fbclid=IwAR3V0cHrmd0rFDCKqY3CpxIs9R8A9O_jTmTm4erScp0c8Wrt1OLfqi9m4iU) claims that he and his party are pro-Russian.
> Large anti-government protests in Prague. Protesters are demanding the resignation of the Czech Republic government.#Prague (https://twitter.com/hashtag/Prague?src=hash&ref_src=twsrc%5Etfw)pic.twitter.com/ZDL34NQJpk (https://t.co/ZDL34NQJpk)
>
> — Live Not by Lies (@Dana35300026) April 17, 2023 (https://twitter.com/Dana35300026/status/1647758087401422848?ref_src=twsrc%5Etfw)
Protesters like Renata Urbanova, who traveled to Prague from the southern city of Pisek, told (https://www.france24.com/en/live-news/20230416-thousands-rally-against-czech-government-in-prague?fbclid=IwAR07IBjgQge4b7G5wc3URkeaUZ-0eSUlozXovhls6GAmFPMV5OMq-Oj8Pog) the press that Fiala’s government is “full of warmongers” and complained that their policies are “making \[Czechs\] suffer.” She complained that “energy is too expensive and so is food.”
**Since the onset of the war in February 2022, Fiala’s government has been among the European Union’s most fervent proponents of the collective West’s sanctions against Russia, despite the serious damage they have inflicted on the Czech economy**. Additionally, the Czech government is among the top providers of military and humanitarian aid to Ukraine, and has taken in massive amounts of refugees, both of which place a further strain on the country’s economy.
Having granted temporary protection to some 400,000 Ukrainian refugees (https://www.lemonde.fr/en/europe/article/2023/02/21/in-poland-and-the-czech-republic-1-4-million-ukrainians-have-found-a-new-life_6016709_143.html#:~:text=Some%20400%2C000%20Ukrainians%20are%20under,a%20population%20of%2037%20million.)—with its relatively small population of 10.5 million—the Czech Republic hosts the most (https://www.euractiv.com/section/politics/news/czechia-hosts-most-ukrainian-refugees-per-capita/) Ukraini…
**Beijing's Antarctic Land Grab: CCP Builds 5th Base Near South Pole**
Beijing's Antarctic Land Grab: CCP Builds 5th Base Near South Pole
_Authored by Daniel Teng via The Epoch Times,_ (https://www.theepochtimes.com/beijings-antartica-land-gab-china-continues-constructing-5th-base-near-south-pole_5205085.html)
Beijing is embarking on the “most significant” expansion of its footprint in Antarctica after new satellite images revealed the communist regime has resumed construction on a fifth polar station.
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_A satellite view with overlays shows areas to be developed at the new Chinese station under construction, on Inexpressible Island, Antarctica, January 2, 2023. Center for Strategic and International Studies (CSIS)/Hidden Reach/Maxar Technologies 2023/Handout via REUTERS_
The new station, located on Inexpressible Island near the Ross Sea, could double as a spying operation, a Washington-based think tank suggests.
> _**“While essential for tracking and communicating with China’s growing array of scientific satellites, ground stations can support intelligence collection,”** the report from the Center for Strategic and International Studies says._
>
> _“Importantly, the station’s position may enable it to collect signals intelligence from U.S.-allied Australia and New Zealand and could collect telemetry data on rockets launching from newly established space facilities in both countries.”_
The CSIS says China has faced more challenges in establishing a footprint in the northern Arctic and, instead, has a “freer hand” to explore the South Pole.
While the United States still maintains the largest presence on the continent, Beijing’s presence is expanding rapidly. It currently has four stations (all to be expanded), including the Great Wall, Taishan, Kunlun, and Zhongshan stations.
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_A map shows the locations of existing Chinese Antarctic stations and the Inexpressible Island site of a new station in this handout image. (Center for Strategic and International Studies (CSIS)/Hidden Reach)_
> _“The Zhongshan Station’s assets could be leveraged to collect intelligence on foreign militaries in the Indian Ocean, including on the joint U.S.-UK Naval Support Facility Diego Garcia. It could also play a support role in monitoring India’s developing naval forces operating in the region.”_
The Chinese Communist Party (CCP) has maintained that its frequent expeditions to Antarctica are for research purposes only.
However, the U.S. Department of Defense has said the CCP’s strategy is to develop “dual-use technologies, facilities, and scientific research,” all aimed at improving the capabilities of the Chinese People’s Liberation Army.
These research stations could also be reference positions for Beijing’s answer to the U.S.-run global positioning system, the BeiDou satellite network.
> _“There’s absolutely no reason why Antarctica would be immune from this doctrine,” Anthony Bergin, senior fellow at the Australian Strategic Policy Institute, previously told The Epoch Times (https://www.theepochtimes.com/australia-must-keep-eyes-wide-open-on-chinas-antarctic-claim_3336198.html)._
>
> _“Particular technologies, particular pieces of scientific research, could be morphed into part of a bigger system. It’s not so much we would expect a direct military threat from Antarctica.”_
Antarctic Treaties Under Threat
The Antarctic Treaty System, established in 1961, is a key agreement governing international relations on the continent. The treaty is considered one of the most “successful sets of international agreements (https://www.bas.ac.uk/about/antarctica/the-antarctic-treaty/the-antarctic-treaty-explained/)” because it has relied on goodwill and peaceful cooperation between nations.
Since the CCP ratified (https://thediplomat.com/2019/06/what-are-chinas-intentions-in-antarctica/) the treaty in 1983, it has been steadily expanding its footprint, fishing fleets, and research expeditions to the continent.
Beijing’s role in Antarctica’s affairs also has been contentious on other fronts.
In 2022, Russia and China again blocked a proposal to establish a new conservation zone in the area during a Conservation of Antarctic Marine Living Resources (CCAMLR) meeting. This was the sixth consecutive year that such a proposal had been blocked by either party.
_**“It’s this weird politicization of science,”**_ Tony Press, a former CCAMLR commissioner, said in an interview with Scientific American (https:…
**Silver Vs Stocks: Comparing Performance During Recessions**
Silver Vs Stocks: Comparing Performance During Recessions
**Historically, silver has been an alternative to traditional investments like stocks and bonds.**
Amid the recent wave of bank failures (https://www.visualcapitalist.com/largest-bank-failures-modern-history/) and rising interest rates, many investors sought the metal, making prices jump (https://www.mining.com/silver-price-soars-as-svb-collapse-spurs-flight-to-safety/).
**But has silver helped investors weather recessionary storms in the past?**
The infographic below, via Visual Capitalist's Bruno Venditti, (https://elements.visualcapitalist.com/silver-vs-stocks-comparing-performance-during-recessions/) uses data from Macrotrends (https://www.macrotrends.net/1470/historical-silver-prices-100-year-chart) to highlight silver’s price movements during recessions and compares it to changes in the S&P 500.
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Silver Price During Recessions
Like gold, silver’s value comes from its scarcity as a precious metal. Silver, however, has a higher industrial use, from electronics and medical applications to batteries and solar panels.
Additionally, the silver market is much smaller than the gold market, making it a much more volatile asset.
The metal saw its biggest price drop in 1980 when it tumbled over 56% after the Hunt brothers (https://www.investopedia.com/articles/optioninvestor/09/silver-thursday-hunt-brothers.asp), who controlled over half of the world’s privately owned silver, failed in an attempt to corner the market and were forced to sell after a rise in margin requirements.
Silver prices plummeted again during the 1990s recession before a steady recovery that culminated in an all-time high reached in 2011, three years after the 2007-2008 Financial Crisis.
Over the last five decades, silver has only outperformed the S&P 500 in three of eight recessions: 1973, 1981 and 2007.
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As of March 2023, the silver nominal price was down 6.1% while the S&P500 was down 3.3%.
Silver Price in 2023
Over the next months, silver demand is expected to rise, supporting the price. Silver’s industrial market could be lifted from further gains in vehicle electrification and governments’ expanding commitment to green infrastructure, according to the Silver Institute (https://www.silverinstitute.org/silver-market-may-face-economic-headwinds-2023/).
However, if the economic scenario worsens and industrial users of silver reduce their output, the metal may face some headwinds.
Tyler Durden (https://cms.zerohedge.com/users/tyler-durden)Wed, 04/19/2023 - 23:20
https://www.zerohedge.com/markets/silver-vs-stocks-comparing-performance-during-recessions
**Republicans Rally Behind Donald Trump - The List Is Growing**
Republicans Rally Behind Donald Trump - The List Is Growing
_Authored by Caden Pearson via The Epoch Times (https://www.theepochtimes.com/13th-texas-republican-endorses-trump-for-president_5205002.html?utm_source=partner&utm_campaign=ZeroHedge&src_src=partner&src_cmp=ZeroHedge) (emphasis ours),_
**Rep. Lance Gooden (R-Texas) on Tuesday joined the growing list of Republicans endorsing former President Donald Trump** for the 2024 presidential election after a positive meeting with Florida Gov. Ron DeSantis.
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_Rep. Lance Gooden (R-Texas) at the Protect Children's Innocence press event outside the U.S. Capitol in Washington on Sept. 20, 2022. (Terri Wu/The Epoch Times)_ (
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In a statement (https://twitter.com/Lancegooden/status/1648448172845568002?s=20) issued on Tuesday, the House Republican from Texas emphasized his belief that Trump’s proven track record and commitment to putting America first make him the best candidate for the GOP nomination.
“I met with Governor DeSantis, and while he has done commendable work in Florida, **there is no doubt in my mind that President Trump is the only leader who can save America from the leftist onslaught we are currently facing**,” Gooden said.
Gooden portrayed the former president as a “tireless” and persistent fighter who supports American jobs and the economy, and stands up against illegal immigration. Gooden also highlighted Trump’s support for the military and veterans, as well as his opposition to the “dangerous socialist agenda” promoted by the radical left.
“I wholeheartedly endorse President Donald J. Trump for the 2024 presidential election and vow to fight alongside him to reclaim our country from the leftist forces that threaten to destroy it,” Gooden said. “Together, we will ensure a prosperous and secure future for our great nation.”
Florida Republicans Endorsing Trump
Gooden joins a growing list of House Republicans backing the former president for the Republican nomination, including seven members from Florida who’ve backed Trump over DeSantis.
This week, Republican Reps. Greg Stuebe, John Rutherford, and Brian Mast joined Cory Mills, Anna Paulina Luna, Byron Donalds, and Matt Gaetz, who already endorsed Trump.
Steube told Newsmax (https://www.theepochtimes.com/florida-rep-greg-steube-endorses-trump-for-president_5202515.html) on April 17 that **Trump is “the only person that can reverse on day one all these disastrous policies of the Biden administration.”**
“We need to right all the wrongs that have happened under this administration, fix the things that happen in Afghanistan, support our military and our veterans, and do the things that the America First agenda stands for, and that is one person, Donald Trump,” Steube said.
“I’m honored to add my endorsement to the long list of endorsements for President Trump,” he added.
Donalds, who publicly endorsed (https://www.theepochtimes.com/florida-rep-byron-donalds-endorses-trump-for-historic-2024-election_5178528.html) Trump earlier this month, declared him the only leader who can get America “back on track” and provide the strength and resolve to “make America great again.”
Other Endorsements
Trump has received more than 39 endorsements from House Republicans, the most of any declared candidates, according to Ballotpedia.
He also gained the support of seven senators and one governor, Henry McMaster of South Carolina.
On April 13, Trump picked up his seventh Senate endorsement from Sen. Ted Budd (R-N.C.). Budd said America was stronger and safer under Trump but, in contrast, had become “a nation in decline” under President Joe Biden. This echoed Trump’s remarks in November when he announced his candidacy.
“That’s why I endorse Donald J. Trump for President,” Budd said. **“Hardworking, everyday families need a return of the America First agenda to restore prosperity and peace.**”
The six other GOP senators who have endorsed (https://www.theepochtimes.com/mississippi-senator-endorses-trump-the-night-before-his-arraignment_5171796.html) Trump’s presidential bid are Sens. Cindy Hyde-Smith (R-Miss.), Lindsey Graham (R-S.C.), Tommy Tuberville (R-Ala.), Markwayne Mullin (R-Okla.), Eric Schmitt (R-Mo.), and J.D. Vance (R-Ohio).
Trump has garnered a diverse array of endorsements from House Republicans spread across 16 states, with the largest number of endorsements coming from Texas, which had 12 as of April 13, according to Ballotpedia, which updates its statistics weekly.
South Carolina has four endorsements for Trump, while Arizona has three; the remaining states have one to three endorsements each: Alabama, two; Colorado, …
https://www.zerohedge.com/political/republicans-rally-behind-donald-trump-list-growing